If I were in your situation I would start to employ and more team oriented solution.
I would spend some time setting up a Continuous Integration system using something like Team City (this tool is free for upto 20 build configurations. I REALLY rate everything from JetBrains.
Then each time one of your team checks in new source code for the service it will be detected automatically by the build system (Team City) and a new set of builds will be triggered.
You could have a debug build that runs your unit tests against the code, a release build that also then includes a WiX Project that also then builds an installer for the service.
Once those processes are completed you can configure it to pop the installer in a known location on your network and it can also then email all the developers in your team to notify them that a new version of the service is available for installation.
WiX is a VERY mature installation authoring tool that is used by Microsoft for a lot of their products. There is a lot of support out there for the tool set and will make your entire process much tighter, repeatable and predictable.
It will take some time to get all of this completed but it really is worth the effort.